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Description: 2010 UBS Global Life Sciences Conference, Caliper at a Glance, Full Year 2010 Financial Outlook, Organic Revenue Growth in 2010, Substantial Strategic and Financial Progress, Caliper Total Solutions Enable, Technologies to Efficiently Predict Human Outcomes, LabChip GX and GXII, Caliper Imaging Value Creation, IVIS Imaging, Clinical Translatability, Regenerative medical application of stem cells, Rationalize and Expand Base of Technologies.
|Short URL: https://www.wesrch.com/business/pdfBU187QJQ1NAMK|
2010 UBS Global Life Sciences Conference
Kevin Hrusovsky es de t CEO President & C O
September 20, 2010
This presentation includes forward looking statements including financial projections forward-looking statements, projections. Reference to what we expect, believe, intend to do, plan, hope, estimate or other statements referring to future events or results are intended to identify those as forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties. Further information on risks faced by Caliper are included under the caption Factors Affecting Operating Results in Caliper's annual report on Form 10-K, filed with the Securities and Exchange Commission on March 12, 2010. Caliper's SEC filings are available on the website maintained by the Securities and Exchange Commission at www.SEC.gov. Caliper does not undertake any obligation to update forward-looking or other statements in thi presentation to reflect any change in Caliper's d t f d l ki th t t t i this t ti t fl t h i C li ' expectations with regards to such statements or any change in events, conditions or circumstances on which any such statements are based. This Thi presentation and discussion i l d certain fi t ti d di i includes t i financial i f i l information which constitute " ti hi h tit t "nonGAAP financial measures" as defined by the SEC. The GAAP measures which are most directly comparable to these measures, as well as a reconciliation of these measures with the most directly comparable GAAP measures, can be found at the end of this presentation.
Caliper at a Glance
Tools to enable drug discovery and MDx for personalized medicine Applications: Molecular sample prep, analysis and imaging Technologies: Robots, LabChip, Preclinical Imaging, Assays, IP
Commercialize disruptive technologies into high growth, profitable products that span the IIH continuum and enable a revolution in medicine
in vitro in vivo human (IIH)
Headquarters - MA; R&D - CA; Sales - Global (40 countries); 425 employees
2009 proforma revenue: $110M Cash: $38M as of June 30th no outstanding debt EBITDA: Positive last four quarters End Markets: 65% Pharma / Biotech; 35% Academic / Government Geographic: 55% Americas; 45% ROW
Full Year 2010 Financial Outlook
($ millions) Revenue R 2010 Guidance $117 $120 2009 Actual $130.4 $130 4 Comments 4-6% organic growth 6-8% / 1x license i 2009 6 8% w/o 1 li in
Gross Margin EBITDA1
49 51% $2.0 - $4.0
+500 to 700 bps Y-o-Y Mid-pt increased $1.75M v. prev. guidance 65%+ OM pull-through impact from incremental growth
$(0.07) - $(0.11)
$(0.12) - Reported $(0.23)/$0.27) PF3
$0.05 improvement v. previous guidance
1) Excludes stock-based compensation and non-recurring charges. Depreciation and amortization of $2.5M and $4.8M, respectively, assumed in projections. 2) Includes stock-based compensation and diluted shares of 50.1M 3) Adjusted for divestitures, shown with /and without 1x license revenue in 2009. 4
Organic Revenue Growth in 2010
$110.3 PF $130.4 $20.1 (1)% 3% 4-6% 4-6%* $117-120M
2010 Proforma Revenue
2009 Actual Divested (PF) FX Specialty Organic 2010 (partial Growth Guidance year) (GAAP) Imaging/Labchip 2010 Org. % growth 10-15%
2010 % of Rev. 75%
Organic growth estimates for FY10* FY10 Imaging Labchip
* Represents 6-8% organic g p g growth, exclusive of significant , g non-recurring license revenue item in 2009.
10% to 10% to -10% to 10% 20% to
15% 15% -15% 15% 30%
21% 20% -20% 20% -25%
Substantial Strategic and Financial Progress
Projecting Q4 ending cash of $35M+, no outstanding debt. Added $16.4M in Q2 `10 via sale of Specialty lines to Biotage $16 4M 10 Biotage. $25M credit facility/$20M (est.) availability.
6-8% organic growth projected in 2010 (excludes substantial 1X license in 2009). Key 2010 drivers are LabChip and Imaging product lines (20% combined H1 organic growth), and rebound of service business.
LabChip Biotherapeutics, genomics and MDx growth. Increasing consumables revenues, and evolution to plastic chips. Launching LabChip XT in Q3. I Imaging-- L i XR and Q i Lumina d Quantum FX adoption, f t d ti favorable mix t d t bl i trend toward S d Spectrum, i t increasing share i h CDAS-- Recently began Phase II work on 50% of the compounds to be tested under under EPA Toxcast program. $4.7M of Phase II task orders in-hand.
Substantial Strategic and Financial Progress
Estimating 500+ bp GM improvement driven by high margin, IP protected revenue growth, raw material cost savings, and service GM improvement (completed divestiture of low (